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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
May 31, 2023
Nov. 30, 2022
Current assets:    
Cash $ 2,298 $ 5,055
Accounts receivable-customers, net of allowance for doubtful accounts of $36,684 and $34,699 in 2023 and 2022, respectively 3,936,349 2,722,298
Inventories, net 11,382,211 10,611,552
Cost and profit in excess of billings 322,339 450,906
Other current assets 220,380 343,618
Total current assets 15,863,577 14,133,429
Property, plant, and equipment, net 6,293,148 6,178,917
Assets held for lease, net 209,172 400,325
Deferred income taxes, net 2,438,182 2,605,395
Other assets 666,258 630,248
Total assets 25,470,337 23,948,314
Current liabilities:    
Accounts payable 2,257,058 2,630,966
Customer deposits 561,820 828,565
Billings in excess of cost and profit 782,733 328,041
Income taxes payable 5,000 3,500
Accrued expenses 1,234,662 1,283,204
Line of credit 4,704,059 3,924,500
Current portion of finance lease liabilities 236,385 170,835
Current portion of long-term debt 106,305 97,678
Total current liabilities 9,888,022 9,267,289
Long-term liabilities    
Long-term portion of operating lease liabilities 18,796 24,016
Long-term portion of finance lease liabilities 844,279 602,131
Long-term debt, excluding current portion 2,846,086 2,904,241
Total liabilities 13,597,183 12,797,677
Stockholders’ equity:    
Common stock – $0.01 par value. Authorized 9,500,000 shares on May 31, 2023 and November 30, 2022; issued 5,110,921 on May 31, 2023 and 5,013,671 on November 30, 2022 51,109 50,137
Additional paid-in capital 4,683,838 4,547,172
Retained earnings 7,403,158 6,754,284
Treasury stock, at cost (72,699 shares in 2023 and 64,574 in 2022) (264,951) (200,956)
Total stockholders’ equity 11,873,154 11,150,637
Total liabilities and stockholders’ equity $ 25,470,337 $ 23,948,314